Dewan Housing Finance Corporation [DHFL] — loan no. 00003320 complaint against dhfl

Address:

Thane, Maharashtra

Dear sir,

With regard to your below email, we would like to inform that your loan application no. 00736450 was disbursed in november 2011 at the applicable rate of interest at 11.25%. Due to tight liquidity and prevailing money market conditions his increased to 11.60% by january 2014 - when the rate increased has any charges belong to pay me to bank and bank ask me to meed branch to approve the high rates. I am asking this question with you below point."to reduce your roi to 9.00% upon payment of applicable conversion fee for rs.2500 + taxes."

Thereafter, we have reduced our retail prime lending rate by 40bps (0.40%). The benefit of reduced cost of borrowing has been passed to your account by reducing the roi on your loan account thrice i. E. By 10bps in may 2015, by 20bps in november 2015 and by 10bps in november 2016 to 11.20%. - so you means say that repo rate for housing loan declare by rbi not for your guidelines you have your own costing which not publically anywhere announce so we can compare as market showing that the interest rate for home loan get reduce we waiting for dhfl announce retail prime lending rate for existing customers, or customer need to regular investigate.

As a nhb registered housing finance company, we raise our funds from capital markets / financial institutions and our cost of funds are purely linked to prevailing market rates. The rate of interest depends upon the movement of interest rates in the economy and our reference cost. Therefore, we are dependent on actual interest rates in the economy to reduce interest rates. - in another circular, nhb instructed hfcs not to discriminate between old and new customers. Often, in their bid to attract new customers, hfcs charge lower rates from new customers as as compared with the rates charged from old customers. According to the nhb circular, “charging of higher interest rate to old customers against the new customers puts them to great disadvantage, besides the practice being discriminatory. The practice also generally lacks in transparency and fairness... Hfcs are advised to apply uniform rates of interest to old and new borrowers who have same credit or risk profile.” is it also applicable

Repo rate is the rate at which rbi offers banks short term borrowings. This means that change in repo rate will impact cost of borrowing of banks. Reduction in repo rate means that banks can borrow money from rbi at a lesser rate. Kindly note, rbi does not ask banks to lower their rate of interest on existing portfolio due to lowering of repo rate. However, the reduction in cost of borrowing allows banks and fi’s to offer ‘fresh loans’ at lower rates.- the reserve bank of india tuesday cut its key interest rate by 0.25% in its first monetary policy review for financial year 2016-17. The repo rate, the rate at which rbi lends money to commercial banks, now stands at 6.5%. This implies a reduction in the rate helps banks borrow money at a cheaper rate and vice versa. Whenever banks have any shortage of funds, they can borrow from the rbi. Similarly, the reverse repo rate which stands at 6% is the rate at which rbi borrows from banks. Therefore, when the interest rate is low, lending by banking system becomes a bit cheaper, leading to a fall in emi, thereby providing a boost to industry and economy in overall. The twin rates are also a key weapon for the rbi to keep a rein on inflation. Raising the repo rate in a high inflation scenario helps rbi to disincentivise banks to borrow money. This reduces money supply in the economy and helps in keeping inflation under control. Similarly, rbi takes the contrary position when inflation moves southward. Now, a reduction in the key interest rate or repo rate will have the following effects:

Effect on consumers: naturally, a fall in the interest rate prompts one to save less and spend more. Due to low interest rate, loans, particularly home loans will see a rise and this benefits the real estate market.


However, considering your clean repayment record we would like to offer you our conversion scheme. Whereby, we are allowing you a chance to reduce your roi to 9.00% upon payment of applicable conversion fee for rs.2500 + taxes.in case if you wish to opt for the scheme, we request you to kindly visit our thane branch. - if higher rate charged by banks not take my permission and not call me to visit branch why should when market get reduced the home loan all over india dhfl pepole asked me to pay 2250+ tax... Why this monopoly of no options for customers. On january 1, 2017, reduced its lending rate by a good 0.9% after prime minister narendra modi in his new year eve address, urged the banks to focus on the needs of poor and lower middle-class and middle-class. So they forgot that national housing banks are not going to folloew this rules cause they are not under rbi repo rates.

My questions are still same cause whatever the process you made is anywhere will found in customers benifits at any point... Did we take loan so you become saokar and we pay you interest and charges on round and round process. If the system of goverment of india want that poor and middle class people can get the home if financial companies like you charging charges and interest so much what the use. Where is justice in all this case to me if was seen from nov 2011 @ 11.25 to july 2017 last 6 years almost only 0.05% rate of intrest get reduced o my account. What kind of justification where i was searching found that market reduced by 2% & 3% my interest counted in just.05% and will get satisfied with this. "no"